My Math Forum I'm stumped!!

 October 26th, 2009, 04:07 PM #1 Newbie   Joined: Oct 2009 Posts: 1 Thanks: 0 I'm stumped!! Using the data from a sample of 42 credit card accounts assume that each account was used to identify the annual credit card charges for groceries(pop 1) and the annual charges for dining out (pop 2). using the differences data, the sample mean was 850 and standard dev is 1123. a-formulate the null and alt hypo to test for no differences between the 2 populations b- use a .05 level of siginificance. can you conclude that the populations means differ? what is the p-value c- which category has a higher population mean annual credit card charge? what is the point est. of the difference between teh population means? what is the 95% confidence interval estimated of the difference between teh population means? please help i am completely lost!!
 October 27th, 2009, 05:41 AM #2 Member   Joined: Oct 2009 Posts: 52 Thanks: 0 Re: I'm stumped!! a. The null hypothesis is "There is no difference in charges between groceries and dining out." The alternative hypothesis depends on your question. (You question here is not very clear) It can be "There is difference in charges between groceries and dining out" b. You can calculate the t-statistic using the formula $\frac{\mu_d}{s / \sqrt{n}}$ where $\mu_d$ is the mean difference and s is the sample standard deviation. Once you get the t-statistic, you can look up the t-table for the p-value. c. 95% CI is given by the formula $\mu_d \pm t_{0.975, n-1}*\frac{s}{\sqrt{n}}$ Cheers

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# which category, groceries or dining out, has a higher population mean

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